Price T Rowe Associates Inc. MD Lowers Position in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX)

Price T Rowe Associates Inc. MD decreased its stake in shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Free Report) by 96.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,182 shares of the company's stock after selling 365,762 shares during the period. Price T Rowe Associates Inc. MD's holdings in Black Diamond Therapeutics were worth $31,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Renaissance Technologies LLC boosted its position in Black Diamond Therapeutics by 256.2% in the fourth quarter. Renaissance Technologies LLC now owns 904,000 shares of the company's stock worth $1,935,000 after purchasing an additional 650,200 shares during the last quarter. Affinity Asset Advisors LLC purchased a new position in Black Diamond Therapeutics in the fourth quarter worth $1,197,000. Dimensional Fund Advisors LP raised its stake in shares of Black Diamond Therapeutics by 158.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 661,436 shares of the company's stock valued at $1,416,000 after buying an additional 405,579 shares during the period. XTX Topco Ltd bought a new stake in shares of Black Diamond Therapeutics in the fourth quarter valued at $197,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Black Diamond Therapeutics by 46.1% in the fourth quarter. Bank of New York Mellon Corp now owns 207,074 shares of the company's stock valued at $443,000 after buying an additional 65,341 shares during the period. Hedge funds and other institutional investors own 95.47% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BDTX shares. Wedbush restated an "outperform" rating and issued a $11.00 target price on shares of Black Diamond Therapeutics in a research note on Wednesday, March 19th. Stifel Nicolaus lowered their target price on Black Diamond Therapeutics from $16.00 to $15.00 and set a "buy" rating on the stock in a research note on Friday, March 7th. HC Wainwright boosted their target price on Black Diamond Therapeutics from $11.00 to $12.00 and gave the company a "buy" rating in a research note on Tuesday, March 18th. Finally, Wall Street Zen upgraded Black Diamond Therapeutics from a "hold" rating to a "buy" rating in a research note on Thursday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $14.60.

Insiders Place Their Bets

In other news, major shareholder Growth N. V. Biotech sold 5,784,292 shares of the company's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $2.07, for a total value of $11,973,484.44. Following the completion of the transaction, the insider now directly owns 2,733,547 shares in the company, valued at approximately $5,658,442.29. This represents a 67.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 8.87% of the company's stock.

Black Diamond Therapeutics Stock Down 2.4%

Shares of NASDAQ:BDTX traded down $0.05 during midday trading on Friday, reaching $2.01. 717,264 shares of the company traded hands, compared to its average volume of 1,502,596. Black Diamond Therapeutics, Inc. has a 12 month low of $1.20 and a 12 month high of $6.75. The firm has a market capitalization of $114.29 million, a price-to-earnings ratio of -1.51 and a beta of 2.63. The firm's fifty day moving average price is $1.63 and its two-hundred day moving average price is $2.08.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last announced its earnings results on Thursday, March 6th. The company reported ($0.28) earnings per share for the quarter, topping analysts' consensus estimates of ($0.31) by $0.03. Analysts forecast that Black Diamond Therapeutics, Inc. will post -1.3 earnings per share for the current year.

Black Diamond Therapeutics Profile

Black Diamond Therapeutics, Inc, a clinical-stage oncology medicine company, focuses on the discovery and development of MasterKey therapies for patients with genetically defined tumors. The company's lead product candidate is BDTX-1535, a brain-penetrant epidermal growth factor receptor MasterKey inhibitor, which is in phase 2 clinical trial for the treatment of epidermal growth factor receptor mutant non-small cell lung cancer, as well as phase 1 clinical trial to treat glioblastoma.